NXB // NextBoat Inc. Common Stcok

DES <GO> NYSE RQD COCKPIT → CIK 0002067767 ↗

Industrials • Marine Transportation

$1.46 ▼ -0.08 (-5.50%)

MKT CAP: $38.8M • VOL: 23.9K

52W L $1 52W H $4

ALTMAN Z

3.18 SAFE

PIOTROSKI

4 / 9

NXB // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE

▼ DOWNGRADE // D (RQD 50) -> D- (RQD 39) AS OF 2026-11-02

ROARABLE D-

RQD CONFIDENCE

39 / 100 -11D

5 X 20-PT QUANT PILLARS

E 0 D 35 C 59 B 70 A 86+

Roarable Sell — Vulnerable Balance Sheet & Flow

01 MASSIVE / SEC XBRL

Forensic Fundamentals

14 / 20

SOLID

FCF +82.1% vs NI +0% • ROIC-WACC +8.6% • Z 3.18

02 INSTITUTIONAL TAPE & TREND

Whale & Options Flow

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

03 SEC XBRL CAPITAL ALLOCATION

Insider & Capital Conviction

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

04 FRED 90D r-MATRIX

Macro Regime Fit

5 / 20

CRITICAL

HEADWIND • r(10Y)=-0.11 (+23bp) • r(OAS)=-0.21

05 10-K REDLINE AUDIT

Forensic 10-K Risk

12 / 20

NEUTRAL

20 BASE - 8 DEDUCT • 0 CRIT / 0 MED • STABLE

ALERT

Why did NXB's Whale & Options Flow & Insider & Capital Conviction sub-score just flash a warning? Enter your email to unlock the full 5-Pillar Rating Breakdown + get instant alerts whenever NXB is Upgraded or Downgraded.

SIG <GO> CROSS-FEED TRIANGULATION // PROPRIETARY ANOMALY ENGINE (1 ACTIVE ON NXB)

STAGE 2 DETERMINISTIC Z-SCORE + STAGE 3 GEEK DESK BRIEF ALL MARKET ANOMALIES <SIG>

▲ BULLISH // MACRO TAILWIND SCORE (96/100)SIFTER 05 // TRUE NET LIQUIDITY BETA

SEVERITY: 94/100 Z-SCORE: +4.40σ

NXB Exhibits 4.24x True Net Liquidity Elasticity as Fed-TGA-RRP Prints $5,746B

TRUE NET LIQUIDITY

$5,746B (-0.64% 4W)

NET LIQUIDITY ELASTICITY

4.24x BETA (r=-0.21)

MACRO TAILWIND SCORE

96 / 100

[GEEK DESK FORENSIC NOTE // FRED WALCL - TGA - RRP × 5Y BETA]

FRED Fed Assets (WALCL)US Treasury TGA (WTREGEN) + ON RRPICE BofA High-Yield OAS + 5Y Equity Beta

Wall Street's True Net Liquidity Index (WALCL minus Treasury General Account WTREGEN minus Overnight RRP) stands at $5,745.73B (-0.64% 4-week RoC; High-Yield OAS +2 bps). Rolling 5-year regression assigns NextBoat Inc. Common Stcok (NXB) a 4.24x Net Liquidity beta (r = -0.21), placing it in the top decile of liquidity-sensitive equities. Current plumbing translates to a deterministic Macro Tailwind Score of 96/100.

NXB // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -44.70%▼ DESCENDING CHANNEL

2026-11-02O $1.49H $1.55L $1.46C $1.46VOL 7.5K

RES: $2.31SUP: $1.19SMA50: $2.00SMA200: $2.32

NXB // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE

ACCUMULATE CONVICTION: 62/100

BEAR 0

100 BULL

NextBoat Inc. Common Stcok (NXB) exhibits 9.6% gross margins and 18.8% return on invested capital within Industrials (Marine Transportation), balanced against a 27.8x enterprise multiple and 4.8% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)

01. Operating Leverage & Capital Efficiency Moat

Sustained 9.6% gross profitability converts into 0.4% operating margin and 18.8% ROIC, outpacing sector cost of capital.

ROIC: 18.8% // GM: 9.6%

02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +21.1% paired with -3.28% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +21.1% // FCF YLD: -3.28%

03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 3.18 and Piotroski F-Score of 4/9 indicate low near-term refinancing stress.

ALTMAN Z: 3.18 // F-SCORE: 4/9

▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)

01. Multiple Compression & Duration Sensitivity

Trading at 24.0x trailing P/E (— Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 24.0x // EV/EBITDA: 27.8x

02. Options Skew & Event Volatility Risk

Options market prices a ±5.2% implied move with a 0.85 put/call ratio around $1.46 max pain.

IMPL MOVE: ±5.2% // P/C: 0.85

03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Marine Transportation require continuous execution to defend -1.6% net margins.

NET MARGIN: -1.6% // D/E: 0.01x

KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs — forward consensus, and institutional 13F positioning.

MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 1.10).

FORM 4 & 13F FLOW OPEN OWN <GO>

FILER	SIDE	$ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>

UNUSUAL OPTIONS TAPE OPEN OPT <GO>

STRIKE / EXP	TYPE	PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>

KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>

TRAILING P/E —

FORWARD P/E —

EV / EBITDA 27.8x

FCF YIELD -3.28%

GROSS MARGIN 9.6%

OPERATING MARGIN 0.4%

NET MARGIN -1.6%

ROIC % 18.8%

REV GROWTH YOY +21.1%

DILUTED EPS TTM —

DEBT / EQUITY 0.01x

DIVIDEND YIELD 0.00%

RSI-14 MOMENTUM 34.2

5Y EQUITY BETA —

FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>

MACRO CORRELATION CALIBRATION ACTIVE BELOW.

FRED MACRO REGIME STRESS-TEST SIMULATOR // NXBPEARSON R VARIANCE ENGINE

01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO

02 // POSITION NOTIONAL EXPOSURE

HEADLINE STRESS SCORE

75/100SEVERE DRAWDOWN PRESSURE

PRIMARY FACTOR EXPOSURE

DFII10 // -0.61 r

Latest: 2.08%

EST. DIRECTIONAL MOVE

-8.50%

Implied Px: $1.34

EST. DOLLAR VARIANCE

-$4,248

On $50,000 Notional

[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for NXB & activate live FRED threshold breach alerts.

HEAD-TO-HEAD PEER COMPARISONS COMP <GO>

NXB VS CAT

MARGINS ROIC VALUATION

NXB VS RTX

MARGINS ROIC VALUATION

NXB VS TMO

MARGINS ROIC VALUATION

NXB VS UNP

MARGINS ROIC VALUATION